Spectrum Brands (NYSE:SPB) Price Target Cut to $87.00

Spectrum Brands (NYSE:SPB) had its price target decreased by analysts at Wells Fargo & Company from $95.00 to $87.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 7.08% from the stock’s current price.

Several other analysts also recently weighed in on SPB. Deutsche Bank Aktiengesellschaft increased their target price on Spectrum Brands from $85.00 to $91.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Monness Crespi & Hardt increased their target price on Spectrum Brands from $98.00 to $106.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Canaccord Genuity Group decreased their target price on Spectrum Brands from $92.00 to $90.00 and set a “hold” rating for the company in a research note on Monday, July 1st. Oppenheimer upped their price target on Spectrum Brands from $88.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, May 10th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $114.00 price target on shares of Spectrum Brands in a report on Friday, June 7th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $98.43.

Spectrum Brands Stock Down 0.4 %

Shares of SPB traded down $0.29 during trading hours on Wednesday, hitting $81.25. 68,638 shares of the company were exchanged, compared to its average volume of 413,200. The company has a market cap of $2.28 billion, a PE ratio of 1.64, a PEG ratio of 0.37 and a beta of 1.19. The firm’s 50 day moving average is $89.00 and its 200-day moving average is $84.24. Spectrum Brands has a 52 week low of $65.27 and a 52 week high of $96.74. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.05 and a current ratio of 3.73.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings results on Thursday, May 9th. The company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $1.13. The company had revenue of $718.50 million during the quarter, compared to the consensus estimate of $708.54 million. Spectrum Brands had a return on equity of 6.43% and a net margin of 68.11%. The firm’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.14) EPS. On average, equities research analysts forecast that Spectrum Brands will post 4.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Spectrum Brands

A number of hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc increased its holdings in Spectrum Brands by 1,923.8% during the 2nd quarter. Versant Capital Management Inc now owns 425 shares of the company’s stock valued at $37,000 after purchasing an additional 404 shares in the last quarter. EMC Capital Management bought a new position in shares of Spectrum Brands in the 1st quarter worth $192,000. Tidal Investments LLC lifted its holdings in Spectrum Brands by 66.0% during the first quarter. Tidal Investments LLC now owns 13,778 shares of the company’s stock worth $1,226,000 after acquiring an additional 5,480 shares in the last quarter. Redwood Investment Management LLC lifted its holdings in Spectrum Brands by 3.1% during the first quarter. Redwood Investment Management LLC now owns 78,447 shares of the company’s stock worth $6,983,000 after acquiring an additional 2,355 shares in the last quarter. Finally, Bayesian Capital Management LP bought a new position in Spectrum Brands during the first quarter worth about $335,000.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.